Xrail Solutions Limited - Limited company - abbreviated

REGISTERED NUMBER: 07813112 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2014

for

Xrail Solutions Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M G Patel

V Rajani

SECRETARY:

M G Patel

REGISTERED OFFICE:

The Glades

Festival Way

Festival Park

Stoke on Trent

Staffordshire

ST1 5SQ

REGISTERED NUMBER:

07813112 (England and Wales)

FIXED ASSETS

Tangible assets

2

6,802

7,277

CURRENT ASSETS

Debtors

224,728

261,861

Cash at bank

42,894

49,257

267,622

311,118

CREDITORS

Amounts falling due within one year

206,382

249,941

NET CURRENT ASSETS

61,240

61,177

TOTAL ASSETS LESS CURRENT
LIABILITIES

68,042

68,454

CAPITAL AND RESERVES

Called up share capital

3

100

Share premium

39,975

Profit and loss account

27,967

28,379

SHAREHOLDERS' FUNDS

68,042

68,454

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company
as at the end of each financial year and of its profit or loss for each financial year in accordance with
the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 March 2015 and were signed on its
behalf by:

M G Patel - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the assumption that the company is able to carry

on business as a going concern, which the directors consider appropriate having regard to the

company's current and expected performance.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the supply of services represents

the value of services provided under contracts, to the extent that there is a right to consideration,

and is recorded at the value of the consideration due. Where a contract has only been partially

completed at the balance sheet date turnover represents the value of the service provided to date

based on a proportion of the total contract value.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Website

-

25% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33.33% on cost

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

12,809

Additions

4,570

Disposals

(1,222

)

At 31 October 2014

16,157

DEPRECIATION

At 1 November 2013

5,532

Charge for year

4,603

Eliminated on disposal

(780

)

At 31 October 2014

9,355

NET BOOK VALUE

At 31 October 2014

6,802

At 31 October 2013

7,277

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

£1

100

4.	ULTIMATE PARENT COMPANY

MGP Solutions Limited has a controlling interest of 75% of Xrail Solutions Limited.

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made advances totalling £27,454 to Mr Patel, a director. The highest

balance outstanding at any one time was £27,454. Mr Patel made repayments totalling £27,454

during the year. There was a balance due to Mr Patel of £2,546 at the year end (2013: £2,546). The

advances were all interest free, unsecured and repayable on demand.

Xrail Solutions Limited - Limited company - abbreviated - 11.6

Xrail Solutions Limited - Limited company - abbreviated - 11.6